Zoe Financial is a digital marketplace serving as matchmaker between high net worth individuals and financial advisors. As of 2023, it has ~$2B in assets under administration (AUA), and the 4,000 advisors using its platform represent approximately ~$800B in AUM. The company was founded in 2018 and is backed by Softbank, and appears to want to go deeper into the technology stack. Zoe is working with BridgeFT, a multi-custodial wealthtech API offering, to power its own platform
On the marketplace, users take a survey, provide their location, and answer questions regarding financial goals. Zoe then produces a list of the top “vetted” advisors. Likely they get a referral fee for the effort. Earlier this year, Zoe Financial also launched its own RIA, which puts it into position to compete with the advisors to whom it would normally refer business. But owning the RIA is a much more profitable proposition.
The integration with BridgeFT will likely accelerate their own internal advisor software build, as well as creating tooling for firms with whom they partner (e.g., net worth statements sent into CRMs).
